Petrol Hits N1,370 in Lagos as Depot Price Increases Bite

Petrol prices have climbed to as high as N1,370 per litre in Lagos after another round of depot price adjustments. The increases have forced major filling stations, including NNPCL, MRS and Mobil, to review pump prices as marketers face higher supply costs.

Market checks showed NNPC and MRS filling stations sold Premium Motor Spirit at N1,360 per litre, while Mobil offered it at N1,349. Independent marketers charged between N1,365 and N1,370 per litre, depending on location.

Lagos depot prices rise

Depot operators in Lagos recorded significant adjustments. A.A. Rano raised petrol price by N75 to N1,295 per litre. African Terminal, Aiteo and Integrated adjusted their rates to about N1,300. NIPCO raised its price by N55 to N1,305 per litre. Dangote Refinery implemented a marginal N3 increase, bringing its gantry price to N1,303. MRS maintained its depot price at N1,310 per litre.

The adjustments highlight the pressure on marketers. They must cover transportation, distribution and operating expenses before selling petrol to consumers. PetroleumPriceNG data pointed to renewed pressure in the downstream petroleum market.

Port Harcourt, Warri and Calabar

In Port Harcourt, Matrix increased its petrol price by N15 to N1,300 per litre. Bulk Strategic, Masters and T.S.L maintained their rates at N1,300. In Warri, A.Y.M. Shafa and Matrix raised prices by N17 each to N1,300 per litre. Parker followed with a N15 increase to N1,300. In Calabar, Fynefield and Northwest listed petrol at N1,360 per litre.

Diesel, or Automotive Gas Oil, prices moved in the opposite direction at several depots. In Lagos, WOSBAB cut diesel price by N21 to N1,809 per litre. Bulk Strategic lowered its rate by N15 to N1,835. Rain Oil and Dangote Refinery adjusted diesel prices downward to N1,850 and N1,823 respectively. In Warri, Matrix and Rain Oil reduced diesel prices by N5 each to N1,835, while Edo Refinery, NIPCO and Prudent maintained N1,840 per litre.

Dangote petrol price history

Dangote Petroleum Refinery had raised its petrol gantry price to N1,300 per litre on Tuesday, November 3, 2026, from N1,215. That increase reversed two previous price adjustments during which the refinery reduced petrol price twice.

The contrasting movements in petrol and diesel prices underscore continued volatility in Nigeria's downstream petroleum sector. For consumers, the latest petrol increases could translate into higher transportation expenses and more pressure on household budgets. Further pump price adjustments remain possible as filling stations respond to changing depot costs.